| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.6K | 1.3% | 1.4% |
| Total Income | 1.6K | 1.3% | 1.4% |
| Expenditure | 1.6K | 3.4% | 3.7% |
| PBT | 43.20 | 42.1% | 64.6% |
| Net Profit | 16.90 | 57.6% | 76.8% |
| OPM | — | ||
| NPM | 1.04% | 1.45pp | 3.39pp |
| EPS | 0.12 | 57.1% | 76.9% |
Ardent Health Reports Q2 2026 Results
05 Aug 2026 · 5 Aug, 1:56 am
Summary
Ardent Health reported second quarter 2026 total revenue of $1.62 billion, a 1.4% decrease year-over-year, primarily due to a 3.9% decline in net patient service revenue per adjusted admission. Net income attributable to Ardent Health was $17 million, a significant decrease from $73 million in the prior year period, resulting in diluted earnings per share of $0.12. Adjusted EBITDA also saw a year-over-year decrease of 32.3% to $115 million. Despite these pressures, operating cash flow increased by 67% to $197 million, and the company reaffirmed its full-year 2026 guidance for revenue and Adjusted EBITDA.
Key Highlights
- 1
Ardent Health reported total revenue of $1.62 billion for the second quarter of 2026.
- 2
Net income attributable to Ardent Health was $17 million, or $0.12 per diluted share, for Q2 2026.
- 3
Adjusted EBITDA decreased 32.3% year-over-year to $115 million for the second quarter of 2026.
- 4
Operating cash flow for the second quarter of 2026 was $197 million, an increase of 67% year-over-year.
- 5
The company is reaffirming its full-year 2026 guidance for Total Revenue between $6,400 - $6,700 million and Adjusted EBITDA between $485 - $535 million.
- 6
Total revenue declined 1.4% year-over-year to $1,622 million in Q2 2026, driven by a 3.9% decrease in net patient service revenue per adjusted admission.
- 7
Admissions for the second quarter of 2026 decreased 1.0% year-over-year, while adjusted admissions grew 2.5% year-over-year.
Management Comments
Dave Caspers
As I transition to the CEO role, I’m looking forward to building on the momentum of key initiatives launched during my COO tenure as well as Ardent's strong foundation in attractive, growing markets. I see clear opportunities to further improve performance and unlock the full potential of the platform. Our growth strategy remains unchanged, but sharpening operational execution is my highest priority. We are focused on the levers we can control — staffing, contracting, capital allocation, standardization and accountability — while continuing to deliver high-quality care to the patients and communities we serve. Second quarter operating and financial performance was impacted by lower surgeries and admissions, but volumes improved after our intra-quarter update in early June, and we moved quickly to address the earnings pressure. Those actions included an improved payor contract in a key market and incremental benefit from our IMPACT program, which we now expect to generate at least $70 million of savings in 2026, compared with $55 million previously. Additionally, we reported strong second quarter operating cash flow of $197 million. Our actions give us confidence to reaffirm our 2026 Adjusted EBITDA guidance of $485 million to $535 million, even as we factor in a lower volume outlook. We remain focused on disciplined execution, consistent performance and creating long-term value for shareholders.
Informational and educational content only. Not investment advice.